Claims In Stock Drop Suit Against Footwear Retailer Dismissed With Prejudice

Mealey's (October 11, 2019, 5:45 PM EDT) -- NEW YORK — A federal judge in New York on Sept. 23 ruled that dismissal of federal securities law claims in a securities class action lawsuit against footwear retailer Skechers U.S.A. Inc. and two of its senior executives is necessary because a shareholder failed to plead any material misrepresentations or omissions in alleging that the defendants engaged in a massive “pump-and-dump” scheme (Steamfitters Local 449 Pension Plan v. Skechers U.S.A. Inc., et al., No. 17-8107, S.D. N.Y., 2019 U.S. Dist. LEXIS 163315)....